Strategic Dealmaking in Health: Navigating Midyear Trends in 2025

PwC's Next in Health

Tune in as Glenn Hunzinger, PwC’s Health Industries Leader, connects with Nick Donkar, PwC’s U.S. Health Services Deals Leader, and Roel Van den Akker, PwC’s Pharma and Life Sciences Deals Leader, to discuss the 2025 midyear deals outlook across health services and pharma and life sciences. They explore how macroeconomic trends, regulatory pressures, and evolving investment strategies are shaping M&A activity and where new opportunities may emerge as companies look ahead to the second half of the year.
Discussion highlights:

• Health services deal volume remains resilient, with renewed investor interest in behavioral health, physician groups, and home-based care models
• Private equity firms are focused on outpatient growth platforms and niche services like revenue cycle management to navigate cost and regulatory headwinds
• Pharma and life sciences dealmaking is centered on targeted, asset driven M&A in the $1 to $5 billion range, rather than full scale platform acquisitions
• Regulatory uncertainty from FDA resource constraints to evolving policies on pricing and probability of technical and regulatory success (PTRS), is complicating deal modeling and slowing transaction timelines
• U.S. biopharma companies are increasingly sourcing early stage innovation from China, introducing new strategic opportunities along with cross border compliance and data challenges

Speakers:

Glenn Hunzinger, Health Industries Leader, PwC
Nick Donkar, US Healthcare Deals Leader
Roel Van den Akker, US Pharma & Life Sciences Deals Leader
Linked materials:

https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html

https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.